New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-11-15
FAILURE OF A. s. HATCH & co.
A THIRD TINE FOR THE SENIOR MEMBER

.,yu .nv.vCIyc PRICE OF STOCKS CAUSES AN
ACKNOWLEDGEMENTS TROUBLES.
Tho recent sharp advance in the prices OF stocks,
espcciay Philadelphia and Reading caused the failure
A. q Hatch & Co, Of No. Nassaust.. yesterday.
The formal announcement at the Stock Exchange which
wa made shortly after o'clock excited little surprise,
hec,use IL hal been generally known for several hours
that the firm laboring under serious difficulties me
influence tho stock market was consequently small
although private settlements mad carly III the day
NAV have increased the demand for the stocks OF which
the firm was short. When notice given that the firm
hal made an assignment it announced also that
had no outstanding contracts at the board and after
momenary hesitation brokers pursued their tasks with
their usual vigOr
The failure attracted attention ouly because the senior
partner formerly president of the Stock Exchange
and for many years member OF the well-known
and highly respected firm OF Fisk Hatch lie haI )ust
been elected president of the Exchange second time
when the bank panic of 1881 carried down tho nrm
Mr. Fisk had returned from Europe only few days DC
FORE and after nearly years absence Tor the dement, Vi
his health found that his first duty was to announce 'e
firms SUSPENSION In this instance well as in the
previous disaster in the panic OF 1873 the nr pau 's
obligations in full 1t not until the spring Oh 1000
that the firm which had achieved in its twentythree
years OF life than national reputation was us
solved Mr. Fisk with three sons established inc hih VI
Harvey Fisk IL Sons, and Mr.. Hatch with son retained
the old Offices under the Continental National BANK
u
The two failures of the old firm were due entirely to
heavy burdens In the OF Government and railroad
bonds which acute stringencv i'll the money
market prevented them from raising funds The failure
yesterday admitted to be due TO bearish views on
stocks that were most pronounced In the coal shares
In the twoyears and half Of It's existenceIhe firm mas
done chiefly a speculative business. and 1t has nad
neither extensive connections large clenage Inc
liabilities not likely to be heavy amt While f toe
amount Is not yet known there excellent aulhoiS luz
saying that they Will not exceed TZouuoSV. ..ora ord
1t understood that they are widely scattered anu
that the losses will small that creditor VIII he
affected The depostors and customers WIN narsins
Street that the arm had coppered" all its bullish
patrons. lis own views have been wen koWh ior 80
era months however and the street runors may nave
DO foundation.
THE SENIOR MEMBER AN UNHAPPY MAN.
Mr. Hatch said that he unable TO make any state
ment about the failure except III general way we
cannot oay debts" he remarked with apparent
sorrow and that would to he sufficient reason Tor
the assignment am an exceedingly unhappy man. ana
that fact about all that an sure Of have not been
doing much in the last two years and have made no
attempt to be power in the stock market nope lhat
my failure will be allowed to pass unnotccd, for con-
Germs only my creditors The liabilities VIII not ne
heavy but would rather not guess about them
Horace II. Chtendcn. the assignee OF the hIl Iook
charge in the afternoon. He said that he knew hothuS
about the condition firm but hoped "a he able to
make an approximate statement within twchN-i"ur
hours He Is member OF the law hrn oi @ ,.
Townsend Il Chitenlcn OF No lGo broadway, anu Nl'a
his father the counsel for the old firm OF FISK
Hatch Tor many years. . , -,
Mr. Gatch is well known in New-fork on account Oh
his great interest in religious and temperance matters
lie has been for active IN mission WORK anu ~ -
w II known in the slunls as in wall street ne
slightly above the meliin height but his rather slight
frame makes him appear tall lie has dark an pe,cnS
ewes his face is closely s1aYen except niue dtSo
whisker under his His manner Is unaffected ana
In speaking he is simple and earnest
The assignment nici Yesterday IN the 'ou',!
CLERKS Office Provision il made for the payment OF
their individual hts and for The pay men ron INC
plus. IL anv. OF the cOpaTtnershp debts Ol ne c'"lsS
OF A. s. Hatch individually, Mary \. thltenirh i Vle
frrrrd for $1,000 l.. Lsnsycar of Lantng Mlc' i
prefcrrel creditor of the firm for the amount "a